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I insisted for years that a seasonal pattern doesn’t exist for stocks. A recent study has changed my mind.

United kingdomMaurice leviRuss wermersDirk baurMark kamstraLisa kramerAnindito mukherjee bloombergUniversity of marylandCanada york universityUniversity of torontoEvidence from mutual fundUniversity of british columbiaUniversity of western australiaWall streetDow jones industrial averageQuantitative analysis